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Dubai real GDP falls 3.5 percent in Q1

Christian Fernsby ▼ | July 2, 2020
Dubai’s real gross domestic product at constant prices showed a 3.5% decline in the first quarter of 2020.
Dubai street
GDP   Dubai street
Compared to this, the emirate’s GDP had registered a dynamic growth rate of 2.2% in 2019, said the Dubai Statistics Centre (DSC).

Topics: Dubai GDP

Nevertheless, the impact of the current worldwide crisis on Dubai in the first quarter of the year was less compared to some of the world's major economies, DSC noted.

Key sectors of the Dubai economy continued to maintain their dynamism in the first quarter.

Real estate, finance, manufacturing and the government sector retained their growth momentum in Q1 2020, a WAM report said.